How does dementia onset in parents influence unmarried adult children's wealth

TitleHow does dementia onset in parents influence unmarried adult children's wealth
Publication TypeJournal Article
Year of Publication2016
AuthorsArora, K
JournalSocial Science and Medicine
Volume152
Pagination156-165
KeywordsAdult children, Health Conditions and Status, Healthcare, Net Worth and Assets
Abstract

There is a growing concern that long-term care (LTC) needs of older adults lead to negative financial consequences for their family members. This paper examines whether the onset of dementia in parents influences wealth change among unmarried adult children regardless of their status as informal caregivers. Longitudinal data from seven waves (1998-2010) of the Health and Retirement Study (1540 person-wave observations) are used to analyze this question. Unconditional quantile regressions demonstrate that as a result of parental dementia diagnosis, unmarried adult children have lower wealth accumulation above the median of the wealth change distribution. These effects are more pronounced for unmarried adult children without siblings. Further, this response is observed to persist in the subsequent period as well. Both losses in labor income and nursing home expenditures may play a role in leading to wealth declines.

Notes

Times Cited: 0 0

DOI10.1016/j.socscimed.2016.01.042
Endnote Keywords

Long Term Care/Dementia/adult Children/informal caregiver/wealth Accumulation

Endnote ID

999999

Citation Key8375